Maryland Department of Housing and Community Development Partners With Wicomico County for New Homeownership Initiative
The Maryland Department of Housing and Community Development has partnered with Wicomico County to launch a new homeownership initiative through the Maryland Mortgage program. Maryland NewBuild will provide incentives to homebuyers purchasing newly constructed homes in the county, including reduced interest rates on Maryland Mortgage loans. The initiative will be available to Wicomico County homebuyers for one year, running until December 1, 2017.
Through Maryland NewBuild, Wicomico County homebuyers purchasing newly constructed homes in designated Priority Funding Areas can receive:
A 0.25% interest rate reduction on a fixed-rate Maryland Mortgage loan;
$5,000 in downpayment assistance through a 0% deferred loan;
Mortgage Credit Certificates and tax credit savings through the Maryland Homecredit Program, and;
A waiver from Wicomico County for the impact fees associated with the newly-constructed single family homes.
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